Robinhood lists Ethereum Classic Before Coinbase

Robinhood lists Ethereum Classic Before Coinbase

Robinhood, a United States based stock and crypto trading app added support for Ethereum Classic (ETC) a day before its rival, Coinbase listed the coin on its platform.

An official blog post announced,

Starting today, you can invest in Ethereum Classic on Robinhood Crypto, commission-free.

With the addition of ETC, the number of coins available to users cross the 19 states in the US where the platform is available has increased to 6.

Robinhood was launched in February, with initially supporting only Bitcoin (BTC) and Ethereum (ETH). Recently, Robinhood has raised money with a $5.6 billion valuation in May and expanded the range of cryptocurrencies available to Bitcoin Cash (BCH), Litecoin (LTC) and Dogecoin (DOGE).

Robinhood also allows users to monitor market data, read cryptocurrency news and create price alert for 10 other coins including XRP, Monero, Bitcoin Gold, Dash, Lisk, Neo, OmiseGO, Otum, Stellar and Zcash. Looking back at the company’s ambitious plans and achievements over the last year, it is expected that these coins will also be added to the platform in the future.

Following Robinhood’s announcement, Coinbase also announced a day later of its decision to add the coin to its platform. Robinhood is a strong competitor to Coinbase and earlier this year, Robinhood co-founder and CEO Baiju Bhatt said that exchange aims to improve its crypto trading service and outstrip Coinbase. He also pointed out that unlike its rival, Robinhood is a registered broker-dealer with the Securities and Exchange Commission.

He added,

We expect by the end of the year to be either the largest or one of the largest crypto platforms out there.

This series of listing announcements has boosted the price of ETC. Over the last few days its price increased from $14 to over $19. It has also surpassed the market cap of NEO and Monero and currently ranks as the 11th largest cryptocurrency.

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Pallavi Janiani

Pallavi Janiani

Content Writer
I am studying Business and psychology at the university of Minnesota. Apart from learning about how the economy and the human mind works, I spend my time dancing with my bollywood fusion team, reading, writing, traveling, usually with a cup of coffee in my hand.